Insurers' Medicare Drug Coverage Is Criticized

By

Sarah Lueck

Updated Oct. 13, 2007 12:01 a.m. ET

WASHINGTON -- The Republicans who created a prescription-drug benefit for Medicare four years ago said private health insurers would be more efficient than the federal government at providing the coverage. Now Democrats say they have proof that isn't the case.

A new analysis, compiled by congressional investigators at the request of Rep. Henry Waxman (D., Calif.) and set to be released in the coming week, said private insurers selling Medicare-funded drug coverage aren't getting "significant" discounts from drug...